Is tourism the new European “manufacturing industry”?

Europe was the most visited continent in 2024, with 747 million visitors, Spain and France being the two main global tourist destinations in terms of visitor numbers. Tourism can be compared to industry as its share of GDP – considering both direct and indirect effects – is comparable to that of the manufacturing industry in several European countries, including France, and even exceeds it in some, such as Spain. While the forecasts for foreign tourist arrivals in 2025 are mixed, those for intra-European tourists remain strong ( Tourism in Europe: Anatomy of a Rebound ), suggesting that tourism will continue to contribute positively to European GDP growth, despite challenges such as inflation and employment shortage in the sector .